CENTROlink, which is operated by the Bank of Lithuania, will allow SH Payments to clear SEPA payments for clients directly via the European Banking Authority (EBA) clearing without using a correspondent bank.
The new system will enable SH Payments to diversify its product offering, allowing the company to offer an LT IBAN in addition to the current IBAN offering: LU, DE, DK, and GB to its clients.
Additionally, SH Payments will have full control, from a risk and compliance perspective, over its transactions, as well as low pricing. The system also means that there will be no delays due to third party correspondents.
SH Payments, which operates under the holding company Stanhope Financial Group, is a global fintech company that provides businesses with a full suite of banking services.
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